Crisil likely to submit report on coal block auction on Oct 8

New Delhi: Financial services firm Crisil, consultant to the Coal Ministry for fixing reserve price for auction of 54 mines, is expected to submit its report on October 8.

"Crisil is likely to submit the report on October 8," a Coal Ministry official said. Further, the Ministry is expected to hold a meeting on October 16 to deliberate on the Crisil report, the official added.

Based on the report, the government would initiate the bidding process for allocation of mines.

Recently, the Comptroller and Auditor General (CAG) had estimated that financial impact of the benefit to the private allottees on account of allotment of 57 coal mines without auction was about Rs 1.86 lakh crore.

The Coal Ministry has identified 54 new coal blocks for auction to the bidders for captive use in different sectors -- 16 for power and 12 for steel, among other sectors.